The National Gas Company of TT (NGC) is thrilled about the latest development in efforts to export natural gas from Venezuela to Trinidad and Tobago. Acting president, Verlier Quan-Vie, expressed the company’s excitement in a recent press release, stating, “NGC welcomes this development and is eager to collaborate with all parties involved to advance this and other opportunities for the benefit of the citizens of TT.”
This exciting news comes after Minister of Energy Stuart Young announced the historic license granted to TT by Venezuela for the exploration and production of natural gas from Cocuina, part of the Manakin-Cocuina field. Young described this achievement as unprecedented and a significant milestone for both TT and Venezuela.
The collaboration between NGC and bpTT to operate the Venezuelan side of the field has been a topic of discussion since the news broke on July 24. The Energy Chamber’s Energy Now publication revealed that NGC and bpTT were granted a 20-year license to operate in Venezuela.
During a post-Cabinet press conference, the Prime Minister highlighted the importance of revenue from TT’s natural gas industry in providing significant privileges to the nation. He emphasized the need to explore resources outside TT’s borders due to the mature reserves in the country.
Dr. Rowley explained that despite political challenges, TT has been fostering relations with Venezuela for the past 15 years, leading to the recent award of the license. He also mentioned the signing of memoranda of understanding with other neighboring countries like Grenada, Guyana, and Suriname.
In closing remarks, Quan-Vie thanked the teams involved in pursuing this milestone and expressed the company’s eagerness to work with all parties to explore further opportunities for the citizens of TT.
